Laboratory Fume Hood Market is gaining significant traction with HEMCO introducing the New SL series of high-performance laboratory fume hoods

 

Laboratory Fume Hood Market

A laboratory fume hood is an innovative type of internal ventilation system which is usually made up of two major components. The first of these two pieces is the venting system, which is usually an adjustable fan or blower connected to the bottom of the furnace or other heating element. The fan draws in air, which passes through a filter, before being distributed over a large surface area of the room. One of the key reasons behind the high demand for fume hood is the robust pharmaceutical industry, especially in emerging economies. As per the India Brand Equity Foundation (IBEF), India’s domestic pharmaceutical market is expected to reach US$ 65 billion in 2024, increasing from US$ 41 billion in 2021. As per the same source, the market is expected to reach around US$ 120-130 billion by 2030. Continuous research and development activities in the field of pharmaceutical and biopharmaceuticals have increased the demand for fume hoods. Hence, such factors can stimulate growth of the laboratory fume hood market.

When it comes to geographical footprint, North America seems to exhibit a positive outlook in the laboratory fume hood market. This is typically due to high prevalence of chronic and acute disorders in the U.S. Besides, technological advancements in laboratory fume hoods could potentially boost the regional market growth. On the contrary, Asia Pacific is gaining robust traction with increase in healthcare access in emerging economies such as India and South Korea. Recently, in December 2020, HEMCO launched the New SL series of high-performance laboratory fume hoods.  

Laboratory hoods generally use one of two different types of venting: physical barrier and turbulent flow. Physical barrier is used to prevent condensation between the evaporator coil and the cooling fan. When physical barrier is present, all vapors flowing past the hood will be hindered by the physical barrier. However, similar to other markets, there are certain challenges that could potentially limit future expansion. For instance, high cost associated with different devices used in laboratory fume hoods remains one of the major hurdles and can curb growth of the laboratory fume hood market in the near future.

Over the years, the laboratory fume hood has evolved massively with technological advancements and end user-specific demand for fume hoods. Besides, the demand for laboratory fume hoods among different users has increased across the globe. With rising number of hospitals and diagnostic laboratories as well as the development of research & development institutes, the laboratory fume hood market is likely to expand at a robust pace in the near future.


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